Flying taxi-maker Vertical Aerospace to land fresh $100m capital injection | Money News

A flying taxi maker which has pledged to create 1,000 new jobs in Britain is in the process of raising another $100m to accelerate its ambition of delivering mass commercial electric aviation.

Sky News has learnt that New York-listed Vertical Aerospace, which featured prominently at last month’s Farnborough Air Show, is hoping to secure the sum in the coming days.

The $100m equity infusion will include $35m from existing institutional backers as well as potential new investors, with the bulk of the commitment coming from Mudrick Capital Management and Yorkville Advisors, two big current shareholders in Vertical Aerospace.

Sources said the details of the deal, which is being handled by bankers at Jefferies, as early as Monday.

If confirmed, it would come a fortnight after Vertical Aerospace, which went public in 2021, said it was in advanced discussions about a grant worth up to £10m from the UK government to support the development of production facilities in Britain.

The company has also joined a Honeywell Aerospace-led EU initiative to accelerate the integration of electric Vehicle Take Off and Landing aircraft into European airspace.

In total, Vertical Aerospace has received close to £50m of government funding as it seeks to justify its billing as a global pioneer of commercial passenger aircraft powered by electricity.

Its six-seater flying taxis, branded Valo, have generated significant international interest as it races to bring them to launch.

Its latest external capital-raising comes less than six months after it secured up to $850m from investors as it tried to allay concerns about the strength of its balance sheet.

Responding to an enquiry from Sky News, a spokesman for Vertical Aerospace said a recently filed term sheet “sets out a non-binding framework for a potential financing transaction and remains subject to definitive agreements and other customary conditions”.

“As previously communicated, the company continues to evaluate opportunities to raise equity through the capital markets.

“We look forward to providing a broader update during our H1 2026 Business Update on 13 August.”

Bristol-based Vertical Aerospace was founded by the Ovo Energy entrepreneur, Stephen Fitzpatrick, who also created the smart energy software platform Kaluza.

Mr Fitzpatrick has gradually sold down his stake in the company, and now owns a small minority interest.

Vertical Aerospace is chaired by Domhnal Slattery, a pioneer in the aircraft leasing industry, and counts Lord Parker, the former director-general of MI5, the domestic security service, as a non-executive director.

The company has landed orders from JetSetGo in India and Heli Air Monaco, the latter of which is aimed at serving demand along the Côte d’Azur.

Its test flights are being supervised by the Civil Aviation Authority, and the company hopes to have its aircraft certified in 2028, with delivery to airline customers after that.

Speaking after its public demonstrations at Farnborough, Vertical Aerospace chief executive Stuart Simpson said they had shown that “electric aviation is moving from promise to progress”.

“From our historic public transition flight to new customers, partnerships and government support, we’ve demonstrated that commercialising a new class of aircraft takes more than breakthrough technology – it takes an ecosystem.”

The company declined to comment further on the details or timing of the prospective $100m capital injection.